What is the purpose of a 401k plan - What does vested in 401k mean - What is the minimum age for 401k

Advantages Of 401 K Plan

The 401K is a popular retirement savings plan that is highly beneficial to the employees. According to this plan, the employee contributes an amount to this retirement plan every month from his or her paycheck. This deducted amount is not taxable. In addition, the employer also contributes equal amount to the savings plan which can be vested after completing certain years of service.More...

401k Withdrawals And The Government Rules

401k Withdrawals And The Government Rules

401k is an excellent savings plan that helps you to save for your life post the retirement period. An account is created where you can save your pre-tax dollars safely. This savings comes into great use during challenging economic times and help you pay your bills and attend to your financial commitments without much delay.More...

 

Can I Contribute To Both A 401k And An IRA ?

Can I Contribute To Both A 401k And An IRA ?

You can contribute to both IRA and 401K plan at the same time under the condition that you are able to meet the requirement of the IRA you choose. In short, there are 3 types of IRA -- Tax-deductible IRA, Nondeductible IRA and Roth IRA. More...

 

How Much Can I Contribute To My 401k Per Year ?

How Much Can I Contribute To My 401k Per Year ?

The 401K plan allows you to save efficiently for the post-retirement life for individuals by maximizing your contributions. An amount is deducted from your pay check and in many cases, your employer makes equal contribution which doubles your savings. The advantage of this powerful savings plan is decreasing tax liability and enjoying the advantage of compound interests. More...

 

Definition Of A 401 K Plan

Definition Of A 401 K Plan

401K is a savings plan for retirement that is funded by employees as well as employers. The amount for this plan is deducted from the salary of the employee and is not taxable. Hence, this plan is quite attractive to employees as they save for their life after retirement and also are benefited without tax deductions.More...

 

How To Cash Out 401 K ?

How To Cash Out 401 K

A 401K is an excellent retirement investment savings plan that allows the employee to save certain amount of their paycheck every month cumulatively until their retirement. An equal contribution is also given by the employer. The accumulated amount is tax free till the end unless it is withdrawn before the age of 59.5 years.More...

 

How To Rollover 401 K ?

How To Rollover 401 K

When you decide to stop contributing to a 401k account earlier than 59.5 years, you will be slapped with a penalty fee of 10 percent and you will also be liable to pay taxes on the amount. You would lose a significant amount of savings unnecessarily in this bargain. Instead, you can transfer this money to another retirement plan, like the IRA. This will not attract any penalties or taxes.More...

 

401a Retirement Plans

401a Retirement Plans

A 401(a) plan is a beneficial retirement savings plan for a person who is working. In this retirement plan, the employer deposits particular amount of money into the retirement account of the employee. An equal amount is also contributed by the employee into the same account and the funds accumulate till the retirement of the employee.More...

 

Retirement :